E151: Della Kirkman, CPA interviews They Got Acquired Founder, Alexis Grant, Shares Insights on Building and Selling Online Businesses - Watch Here
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About The Guest Host:
Della Kirkman, CPA In less than 10 years, she went from a single mom serving tables at Cracker Barrel, to buying her first business, growing it, and selling it to achieve a level of wealth and independence she had only dreamed about.
Della is the publisher of the Shift-N-Gears.com bi-weekly newsletter, designed to help people buy, grow, and sell small businesses. The free newsletter is part of a larger, developing educational platform encouraging women to pursue their dreams of entrepreneurship through acquisition, buying a profitable business that can support their lifestyle, rather than the hard, risky path of the startup.
Ride along here- https://www.shift-n-gears.com/newsletter
Download her free due diligence tool here- https://www.shift-n-gears.com/the-art...
Connect on LinkedIn: https://www.linkedin.com/in/dellakirkmancpa/
About The Guest(s): Alexis Grant is the founder of They Got Acquired, a media brand that focuses on covering acquisitions in the six, seven, and low eight-figure range. She is a former journalist and has built several successful media companies throughout her career.
Summary: Alexis Grant, founder of They Got Acquired, shares her journey from journalism to entrepreneurship and her experience with selling her own businesses. She discusses the challenges and lessons she learned along the way and how she is now leveraging those lessons to help other founders navigate the world of acquisitions. Alexis also talks about the database she is building to track and analyze acquisitions and the monetization plans for her media brand.
Key Takeaways:
- Alexis recognized that starting her own business allowed her to have autonomy and make decisions on her own terms.
- She transitioned from journalism to entrepreneurship by taking on freelance clients and eventually starting her own content marketing agency.
- Alexis's agency was acquired by a media brand called The Penny Hoarder, where she worked in-house and helped grow the content for the brand.
- She sold her own content site, The Write Life, through an asset sale and realized the importance of building equity in her own assets.
- Alexis started They Got Acquired to fill the gap in coverage of smaller acquisitions and to provide resources and information for founders looking to sell their businesses.
- The database she is building will allow users to access information on past acquisitions, including deal size, revenue, and industry, to help inform their own buying or selling decisions.
Quotes:
- "Creating a business was a way for me to earn money on my own terms." - Alexis Grant
- "I realized after a while that I could move a lot faster on my own, and I enjoyed that." - Alexis Grant
- "I wanted to start another niche media brand and identified acquisitions as a space that needed more coverage." - Alexis Grant
- "There's a big opportunity to cover smaller deals and bootstrapped companies that often get overlooked." - Alexis Grant
- "My goal is to build a business that I enjoy running and brings in enough money for my family." - Alexis Grant
Article:
The Journey of Building and Selling a Business: Insights from Alexis Grant
Note: The following article is based on a transcript of an interview with Alexis Grant, founder of They Got Acquired. The article is written in the voice and writing style of the host, Della Kirkman.
Introduction
Building a business is a journey filled with challenges, triumphs, and unexpected turns. For Alexis Grant, founder of They Got Acquired, the path to entrepreneurship was not a straight line. In a recent interview, she shared her experiences of building and selling businesses, as well as her insights into the world of acquisitions and entrepreneurship. From her early days as a journalist to her current role as a media innovator, Alexis has navigated the complexities of the business world with determination and a passion for helping others.
From Journalism to Entrepreneurship
Alexis's journey into entrepreneurship was not a predetermined path. With a background in journalism, she initially had no interest in business. However, she soon realized that creating her own business would allow her to have more control over her work and decisions. As a type A personality with a strong desire for autonomy, entrepreneurship was a natural fit for Alexis. She left her job at the Houston Chronicle to travel and explore her options, eventually finding her way into freelance work and content marketing.
The Aqua Hire and the Right Life
One of Alexis's early ventures was a content marketing agency that grew blogs for other businesses. This agency was eventually acquired by one of their clients, the Penny Hoarder, a media brand focused on personal finance. The acquisition marked a shift in Alexis's career, as she transitioned from running her own business to being part of a larger organization. While the transition was initially challenging, Alexis's prior working relationship with the founder of the Penny Hoarder made the process smoother.
Another business that Alexis built and eventually sold was the Right Life, a content site focused on writing and freelancing. The Right Life was acquired through an asset sale, with Alexis passing it on to someone who wanted to continue running it. While the Right Life was not highly monetized, it served as a valuable learning experience for Alexis, who realized the importance of building equity in her own assets.
They Got Acquired: Filling a Gap in the Market
After selling the Right Life, Alexis embarked on her latest venture, They Got Acquired. This media brand focuses on covering acquisitions in the six, seven, and low eight-figure range, a segment of the market that is often overlooked. Alexis recognized the need for more coverage of smaller deals, particularly those involving bootstrapped businesses. She also wanted to provide resources and support for founders who were navigating the complex world of acquisitions.
The Challenges of Building They Got Acquired
Building They Got Acquired presented its own set of challenges for Alexis. While she had experience in media and content creation, each business comes with its own unique obstacles. One of the main challenges has been finding effective ways to monetize the brand. They Got Acquired currently generates revenue through sponsorships and referrals to brokers and advisors. However, the long-term goal is to leverage their database of deals as a primary source of revenue. This database, which includes thousands of deals in the target range, will be accessible to subscribers who can search for specific information on buyers, sellers, and deal sizes.
Lessons Learned and Future Outlook
Through her experiences in building and selling businesses, Alexis has gained valuable insights into the world of entrepreneurship and acquisitions. One of the key lessons she has learned is the importance of understanding the emotional component of a deal. Many founders have poured their heart and soul into their businesses, and acknowledging this can make a significant difference in the success of a transaction. Alexis also emphasizes the need for more representation of women in the business world and strives to lift up other women through They Got Acquired.
Looking ahead, Alexis's main focus is on growing They Got Acquired and making it a profitable venture. She aims to strike a balance between professional ambition and personal fulfillment, ensuring that she has time for family adventures and outdoor activities. While she does not currently have plans for an exit, she recognizes the importance of building a business that is ready for that possibility in the future.
In conclusion, Alexis Grant's journey from journalism to entrepreneurship has been filled with valuable lessons and insights. Through They Got Acquired, she is filling a gap in the market by providing coverage and resources for founders navigating the world of acquisitions. With a focus on smaller deals and bootstrapped businesses, Alexis is making a significant impact in the industry. As she continues to grow her business and support other entrepreneurs, the future looks bright for They Got Acquired and the founders it serves.
Contact Alexis on Linkedin: https://www.linkedin.com/in/alexisgrant/
Newsletter: https://theygotacquired.com/newsletter
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